The detailed roles and responsibilities of the BAEC are set out in its Terms of Reference, which was last reviewed on 30 January 2023 and is available on BIMB’s website at www.bankislam.com. The BAEC of BIMB, consisting of 100% Independent Non-Executive Directors with diversity of skills and gender is equipped to fulfil its responsibilities in order to effectively ensure sound corporate governance procedures and in providing an independent oversight of the Group’s financial reporting and internal control system. This report gives readers a glimpse into the BAEC’s activities during the financial year under review. MEETINGS During the financial year under review, nine (9) BAEC meetings were held. This satisfied the BAEC Terms of Reference, which requires the BAEC to meet at least four (4) times a year. The Group Chief Executive Officer (GCEO), the Group Chief Internal Auditor (GCIA), the Group Chief Compliance Officer / Group Chief Integrity & Governance Officer, the Group Chief Operating Officer, the Group Chief Human Resources Officer and the Group Chief Legal Officer & Company Secretary who is also the Secretary to the BAEC, attends the BAEC meetings. In addition to that, the Group Chief Financial Officer and any other Management representatives were invited to the meetings, where required, to present and facilitate the deliberation on any specific issues arising from the relevant reports presented. The attendance of the said Management representatives as permanent invitees at the BAEC meetings allows the BAEC to rigorously challenge the Management on BIMB’s process and procedures on internal controls and financial reporting. This further facilitates a strong collaboration and synergy between the BAEC and the Management in ensuring an effective internal control system and financial reporting. The External Auditors were also invited to the meeting to present the audited financial statements, the half-yearly unaudited financial reports, the Management Letters, the Audit Plan and other relevant matters. During the financial year 2022, the BAEC had two (2) private sessions with the External Auditors without the presence of the Management to review the scope and adequacy of BIMB’s audit process, the annual financial statements and their audit findings. All BAEC members have given their full commitment to the meetings held in 2022 as indicated in the full meeting attendance record as follows: Name Meeting Attendance % Datuk Bazlan Osman Independent Non-Executive Director/Chairman 9/9 100 Mohd Yuzaidi Mohd Yusoff Independent Non-Executive Director Ceased to be a member w.e.f. 7 April 2023 9/9 100 Nuraini Ismail Independent Non-Executive Director 9/9 100 Dato’ Sri Khazali Ahmad Independent Non-Executive Director Retired w.e.f. 2 January 2023 9/9 100 Mohamed Ridza Mohamed Abdulla Non-Independent Non-Executive Director Retired w.e.f. 1 December 2022 8/8 100 Total meeting hours spent during FY2022 Average meeting hours spent in each meeting within FY2022 26 hours and 45 minutes 2 hours and 58 minutes Accountability Bank Islam Malaysia Berhad 203 01 05 03 07 02 06 09 04 08
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